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August 28, 2026
António Seladas, CFA
António Seladas, CFA
Portuguese Economy: ESI in August adjusted,, below the moving averages
Summing up, the Euro Area ESI data improved in August, the fourth month in a row, mainly Services and Industry; above moving averages. Meanwhile, in Portugal, data has shown lack of momentum, figures below moving averages and against the modest positive trend in the Euro Area.
August 28, 2026
António Seladas, CFA
António Seladas, CFA
Quick Comment: Portuguese Economy - July retail sales, volumes, +3.7%YoY, o/w Food: +2.6%
All in all, Retail sales data, volumes +3.7%YoY, below moving averages, o/w non-Food, +4.6%YoY and Food sales +2.6% (nominal +5.3%) points to some weakness (below moving averages), even so still interesting data.
August 20, 2026
António Seladas, CFA
António Seladas, CFA
Portugal – June External data – Deficit of Good Account above 10% oF GDP
In a nutshell, external data in June, remains negative, Current Account recorded a small deficit, the second month in a row. In fact, Tourism is losing steam, the Travel Account surplus in June increased only 1.5% and 3.9%YtD...
August 14, 2026
António Seladas, CFA
António Seladas, CFA
Portugal – 2Q26 salaries +5.08%YoY; roughly 2% premium over inflation
Quick Comment: Portugal – 2Q26 gross earnings per employee increased on average 5.08%YoY nominal...
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